Westpac maintains market share
Westpac's June quarter disclosure statement shows Westpac's mortgage book grew by $326 million to $35.8 billion in the three months. That's down from its $489 million growth in the March quarter but well above the December quarter's $29 million growth.
If Reserve Bank figures prove a good proxy for the numbers in banks' quarterly statements, that meant Westpac's market share was steady at 20.67% between the March and June quarters.
Most of the growth, $237 million, came from mortgages with loan-to-valuation ratios (LVRs) below 80% with another $77 million of growth coming from mortgages with LVRs between 80% and less than 90%. Those with LVRs above 90% grew by just $12 million.
The latter accounted for 8.8% of Westpac's mortgage book at June 30 while those with LVRs below 80% accounted for 75.7%, the same as at March 31.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
